INTRODUCTION TO FINANCIAL ACCOUNTING
|
|
- Drusilla Jennings
- 6 years ago
- Views:
Transcription
1 INTBUS JUNE 2013 EXAMINATION DATE: 5 JUNE 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (IFA-01) INTRODUCTION TO FINANCIAL ACCOUNTING THIS EXAMINATION PAPER CONSISTS OF 3 SECTIONS: SECTION A: CONSISTS OF: (i) 10 MULTIPLE-CHOICE QUESTIONS (10 MARKS) (ii) 5 TRUE OR FALSE QUESTIONS (10 MARKS) (iii) 10 MATCHING-STATEMENT QUESTIONS (10 MARKS) ANSWER ALL THE QUESTIONS SECTION B: SECTION C: CONSISTS OF 1 SHORT QUESTION ANSWER THE QUESTION CONSISTS OF 2 LONG ANSWER QUESTIONS ANSWER BOTH QUESTIONS (30 MARKS) (40 MARKS) INSTRUCTIONS: 1. Read the following instructions carefully before answering the paper, as failure to act upon them will result in a loss of marks. 2. Write your answers in your answer book, which is provided in the exam. 3. Ensure that your name and student number are clearly indicated on your answer book. 4. Write your answers in either blue or black ink in your answer book. 5. Read each question very carefully before you answer it and number your answers exactly as the questions are numbered. 6. Begin with the question for which you think you will get the best marks. 7. Note the mark allocations for each question give enough facts to earn the marks allocated. Don't waste time by giving more information than required. 8. You are welcome to use diagrams to illustrate your answers. 9. Please write neatly we cannot mark illegible handwriting. 10. Any student caught cheating will have his or her examination paper and notes confiscated. The College will take disciplinary measures to protect the integrity of these examinations. 11. If there is something wrong with or missing from your exam paper or your answer book, please inform your invigilator immediately. If you do not inform your invigilator about a problem, the College will not be able to rectify it afterwards, and your marks cannot be adjusted to allow for the problem. 12. This paper may be removed from the examination hall after the examination has taken place. NOTE: YOU MAY USE A NON-PROGRAMMABLE CALCULATOR. DAMELIN CORRESPONDENCE COLLEGE JUNE 2013 PAGE 1 OF 7
2 SECTION A (30 MARKS) ANSWER ALL THE QUESTIONS (i) MULTIPLE-CHOICE QUESTIONS Choose the correct option for each of the following. Write only the question number and your chosen answer. For instance, if you think that the correct answer for number 1 is, then write it as Long-term liabilities: are not repaid. do not fall due within the current financial year. fall due for payment within the current financial year. are only applicable to Close Corporations. 2. A transaction caused a R9 000 decrease in both assets and liabilities. This transaction could have been the: purchase of a delivery truck for R collection of R9 000 accounts receivable. repayment of a R9 000 bank loan. purchase of Stock worth R Examples of intangible, non-current assets are: land and buildings. patents. franchises. and. 4. If the assets of a business are R and the liabilities are R55 000, then the equity of the business is: R R R R Which of the following is not a basic Credit account? Creditors Capital Expenses Income 6. Petty cash is a(n): liability account. asset account. monies for a rainy day. only for use by the owners. DAMELIN CORRESPONDENCE COLLEGE JUNE 2013 PAGE 2 OF 7
3 7. The following is an example of a long-term liability account: Depreciation expense Accumulated depreciation Mortgage Owners equity 8. Interest on fixed deposits is referred to as: income. bank charges. an expense. return on investment. 9. Vat is charged at: 10%. 14%. 12%. different rates, dependent on the industry. 10. Which of the following is not a method of calculating the value of inventory? First in First out [FIFO] Weighted average cost [WAC] Last in First out [LIFO] Perpetual inventory [10] (ii) TRUE OR FALSE QUESTIONS Indicate whether the following statements are True or False. Motivate all your answers. 1. A balance sheet is a summary of the income and expenditure of a business. 2. Net profit is the difference between sales and cost of sales. 3. The double entry system is a bookkeeping system that records every transaction twice to the same account once as a debit and once as a credit. 4. All businesses are required by law to pay a Skills Development Levy. 5. A sole proprietor is an example of a business with a separate legal identity to that of the owner. [5 2 = 10] DAMELIN CORRESPONDENCE COLLEGE JUNE 2013 PAGE 3 OF 7
4 (iii) MATCHING-STATEMENT QUESTIONS Match the statements in Column B to the statements in Column A. Write down the answers only, for example 1.. Column A Column B 1. the standard framework of guidelines for financial large supermarkets generally use this accounting 2. the historic cost concept liabilities 3. the accrual or matching concept generally accepted accounting principles (GAAP) 4. the perpetual inventory system drawings a/c 5. salary deduction (e) time frames are important 6. example of a nominal account (f) PAYE 7. monies withdrawn by the owners of a business (g) cheque 8. non-current and current (h) vehicles a/c 9. example of a source document (i) assets should be recorded and reported at cost. 10. example of a real account (j) rent a/c [10] [30] DAMELIN CORRESPONDENCE COLLEGE JUNE 2013 PAGE 4 OF 7
5 SECTION B: SHORT QUESTION (30 MARKS) ANSWER THE QUESTION QUESTION 1 Analyse the following transactions by means of the accounting equation (A = O + L), drawing the following columns: Example: Issued a cheque to Pen Stationers for stationery purchased, R500. Number Account debited Account credited Effect on Assets Owner's equity Example Stationery Bank Liabilities Cheque issued to pay for stationery, R800. (4) Office desk purchased on account, R (4) Cheque issued to pay creditor, R400. (4) Stock with cost price of R3 000 purchased and a trade discount of 10% was allowed. The payment was made immediately by electronic funds transfer (EFT). (The perpetual inventory method is used). (4) (e) A Debtor settled debt of R300 and a discount of 5% was received. (7) (f) The business has an account with the local garage and fuel was bought on account for the three delivery vehicles, R (4) (g) What is the accounting equation? (3) [30] [30] DAMELIN CORRESPONDENCE COLLEGE JUNE 2013 PAGE 5 OF 7
6 SECTION C: LONG ANSWER QUESTIONS (40 MARKS) ANSWER BOTH QUESTIONS QUESTION 1 The following relates to Dynamix Motor Services: Dynamix Motor Services Pty Ltd Trial Balance March R R Capital: L Haney Drawings Vehicles Creditors Debtors Income Wages Telephone Expenses Stationery Expenses Long-term Loan payable Bank [favourable] Additional Information: Receipts from debtors, R5 000 have been credited to drawings. 2. Creditors have been undercast by R An amount of R23 000, in respect of income, has been recorded as R The legal fees account and the entertainment expenses account, with a debit balance of R5 629 and R562 respectively, have inadvertently been omitted from the trial balance. 5. A repayment on the loan, R9 000 has not yet been recorded in the books. 6. The Director L.Haney, invested a further R of his own money into the business. You are required to: Draw up the correct Trial Balance for Dynamix Motor Services at 31 March [20] DAMELIN CORRESPONDENCE COLLEGE JUNE 2013 PAGE 6 OF 7
7 QUESTION 2 The following transactions over a 2-month period pertain to Easy Stationers cc, a vat registered business. Credit Sales for the vat period, R Cash sales for the vat period, R purchase stationery for resale, to the amount of, R motor vehicle oil expense for the vat period, R550 fuel expense for the vat period, for business vehicles, R5 808 bank statement showed the following: bank charges, R235 and interest charged R400. telephone expense for the vat period, R1 200 You are required to: Calculate the input VAT and output VAT and the amount refundable / payable for the 2-month period. (Show all workings: Round off to the nearest Rand where applicable.) [20] [40] Section A: 30 marks Section B: 30 marks Section C: 40 marks TOTAL: 100 MARKS DAMELIN CORRESPONDENCE COLLEGE JUNE 2013 PAGE 7 OF 7
INTRODUCTION TO FINANCIAL ACCOUNTING
INTBUS NOVEMBER 2013 EXAMINATION DATE: 6 NOVEMBER 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (IFA-01) INTRODUCTION TO FINANCIAL ACCOUNTING THIS EXAMINATION PAPER CONSISTS
More informationACCOUNTING AND FINANCE
ACCBUS4 JUNE 2013 EXAMINATION DATE: 3 JUNE 2013 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (BUS-AF) ACCOUNTING AND FINANCE THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS: SECTION
More informationFINANCIAL ACCOUNTING 3
FINBUS4 NOVEMBER 2013 EXAMINATION DATE: 7 NOVEMBER 2013 TIME: 09H00 13H00 TOTAL: 100 MARKS DURATION: 4 HOURS PASS MARK: 40% (BUS-AC3) FINANCIAL ACCOUNTING 3 THIS EXAMINATION PAPER CONSISTS OF 4 QUESTIONS:
More informationNOVEMBER 2013 EXAMINATION DATE: 5 NOVEMBER 2013 DURATION: 2 HOURS PASS MARK: 40% (DBM-03)
BUSBUS17 NOVEMBER 2013 EXAMINATION DATE: 5 NOVEMBER 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (DBM-03) BUSINESS ACCOUNTING THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS:
More informationFINANCIAL ACCOUNTING 1
FINBUS2 NOVEMBER 2013 EXAMINATION DATE: 4 NOVEMBER 2013 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (BUS-AC1) FINANCIAL ACCOUNTING 1 THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS:
More informationFINANCIAL ACCOUNTING 1
FINBUS2 JUNE 2013 EXAMINATION DATE: 3 JUNE 2013 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (BUS-AC1) FINANCIAL ACCOUNTING 1 THIS EXAMINATION PAPER CONSISTS OF 5 QUESTIONS: ANSWER
More informationACCOUNTING AND FINANCE
ACCBUS4 NOVEMBER 2012 EXAMINATION DATE: 5 NOVEMBER 2012 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (BUS-AF / PD-58) ACCOUNTING AND FINANCE THIS EXAMINATION PAPER CONSISTS OF 2
More informationA LOGICAL APPROACH TO SOUTH AFRICAN TAX
ALOBUS NOVEMBER 2013 EXAMINATION DATE: 14 NOVEMBER 2013 TIME: 14H00 16H30 TOTAL: 100 MARKS DURATION: 2½ HOURS PASS MARK: 40% (PO-04) A LOGICAL APPROACH TO SOUTH AFRICAN TAX THIS EXAMINATION PAPER CONSISTS
More informationFINANCIAL ACCOUNTING 3
FINBUS4 JUNE 2012 EXAMINATION DATE: 7 JUNE 2012 TIME: 09H00 13H00 TOTAL: 100 MARKS DURATION: 4 HOURS PASS MARK: 40% (BUS-AC3) THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS: SECTION A: SECTION B: CONSISTS
More informationLOCAL GOVERNMENT FINANCE 2
LOCBUS3 NOVEMBER 2013 EXAMINATION DATE: 7 NOVEMBER 2013 TIME: 14H00 17H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (KC-07) LOCAL GOVERNMENT FINANCE 2 THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS:
More informationINCOME TAX / TAXATION
INCBUS JUNE 2012 EXAMINATION DATE: 6 JUNE 2012 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (KJ-59 / BUS-LT) INCOME TAX / TAXATION THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS:
More informationDEBT COLLECTING PROCESS
DEBBUS1 JUNE 2013 EXAMINATION DATE: 4 JUNE 2013 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (LP-005) DEBT COLLECTING PROCESS THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS: SECTION
More informationBookkeeping and Accounting 1
BOOBUS1 JUNE 2013 EXAMINATION DATE: 12 JUNE 2013 TIME: 14H00 16H30 TOTAL: 100 MARKS DURATION: 2½ HOURS PASS MARK: 40% (QL-11 / AU-55) Bookkeeping and ing 1 THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS:
More informationFINANCIAL ACCOUNTING 1
FINBUS2 NOVEMBE 2012 EXAMINATION DATE: 5 NOVEMBE 2012 TIME: 09H00 12H00 TOTAL: 100 MAKS DUATION: 3 HOUS PASS MAK: 40% (BUS-AC1) FINANCIAL ACCOUNTING 1 THIS EXAMINATION PAPE CONSISTS OF 4 QUESTIONS: ANSWE
More informationJUNE 2012 EXAMINATION DATE: 5 JUNE 2012 DURATION: 2 HOURS PASS MARK: 40% (KF-00)
FINBUS5 JUNE 2012 EXAMINATION DATE: 5 JUNE 2012 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (KF-00) FINANCIAL CONTROL THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS: SECTION A: CONSISTS
More informationJUNE 2013 EXAMINATION DATE: 5 JUNE 2013 DURATION: 3 HOURS PASS MARK: 40% (YH-47)
BUSBUS11 JUNE 2013 EXAMINATION DATE: 5 JUNE 2013 TIME: 14H00 17H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (YH-47) BUSINESS PRACTICE THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS: SECTION A:
More informationJUNE 2013 EXAMINATION DATE: 6 JUNE 2013 DURATION: 2 HOURS PASS MARK: 40% (ED-48)
LEGBUS2 JUNE 2013 EXAMINATION DATE: 6 JUNE 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (ED-48) THIS EXAMINATION PAPER CONSISTS OF 3 SECTIONS: SECTION A: CONSISTS OF: (i) 10
More informationJUNE 2013 EXAMINATION DATE: 3 JUNE 2013 DURATION: 2 HOURS PASS MARK: 40% (LP-010)
BUSBUS JUNE 2013 EXAMINATION DATE: 3 JUNE 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (LP-010) BUSINESS LAW THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS: SECTION A: CONSISTS
More informationJUNE 2012 EXAMINATION DATE: 7 JUNE 2012 DURATION: 2 HOURS PASS MARK: 40% (ED-48)
LEGBUS2 JUNE 2012 EXAMINATION DATE: 7 JUNE 2012 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (ED-48) LEGAL SECRETARY THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS: SECTION A: CONSISTS
More informationADMINISTRATIVE PRACTICE 2
ADMBUS4 NOVEMBER 2013 EXAMINATION DATE: 6 NOVEMBER 2013 TIME: 14H00 17H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (JK-90) ADMINISTRATIVE PRACTICE 2 THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS:
More informationJUNE 2013 EXAMINATION DATE: 13 JUNE 2013 DURATION: 3 HOURS PASS MARK: 40% (BUS-EC) ECONOMICS
ECOBUS JUNE 2013 EXAMINATION DATE: 13 JUNE 2013 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (BUS-EC) ECONOMICS THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS: SECTION A: CONSISTS
More informationBALANCE OF PAYMENTS AND PROTECTIONISM
BALBUS NOVEMBER 2013 EXAMINATION DATE: 7 NOVEMBER 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (YH-42) BALANCE OF PAYMENTS AND PROTECTIONISM THIS EXAMINATION PAPER CONSISTS
More informationMATHEMATICAL LITERACY
MATBUS JUNE 2013 EXAMINATION DATE: 7 JUNE 2013 TIME: 14H00 16H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (UC-02) MATHEMATICAL LITERACY THIS EXAMINATION PAPER CONSISTS OF 9 QUESTIONS: ANSWER ALL
More informationNATIONAL SENIOR CERTIFICATE (NSC) GRADE 11 FINAL EXAMINATION ACCOUNTING (NSC11-12) DURATION: 3 HOURS DATE: 17 OCTOBER 2013
ACCHIG11 NATIONAL SENIOR CERTIFICATE (NSC) GRADE 11 FINAL EXAMINATION ACCOUNTING (NSC11-12) TIME: 09H00 12H00 TOTAL: 300 MARKS DURATION: 3 HOURS DATE: 17 OCTOBER 2013 This question paper consists of 16
More informationNATIONAL SENIOR CERTIFICATE (NSC) GRADE 11 FINAL EXAMINATION ACCOUNTING (NIT-34) DURATION: 3 HOURS DATE: 18 OCTOBER 2012
ACCHIG11 NATIONAL SENIO CETIFICATE (NSC) GADE 11 FINAL EXAMINATION ACCOUNTING (NIT-34) TIME: 09H00 12H00 TOTAL: 300 MAKS DUATION: 3 HOUS DATE: 18 OCTOBE 2012 This question paper consists of 14 pages. ICG
More informationGAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION JUNE 2016 GRADE
GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION JUNE 2016 GRADE 11 ACCOUNTING TIME: 180 minutes MARKS: 300 14 pages ACCOUNTING GRADE 11 2 GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION ACCOUNTING
More informationNATIONAL SENIOR CERTIFICATE (NSC) GRADE 11 MID-YEAR EXAMINATION MATHEMATICAL LITERACY PAPER 2 (NSC11-02) D B
MATHIG211 NATIONAL SENIOR CERTIFICATE (NSC) GRADE 11 MID-YEAR EXAMINATION MATHEMATICAL LITERACY PAPER 2 (NSC11-02) D10055656-4-B TIME: 14H00 15H30 TOTAL: 75 MARKS DURATION: 1½ HOURS DATE: 10 JUNE 2013
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 13 No of Questions - 06 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I INTAKE VIII (GROUP A) END SEMESTER
More informationPANCHAKSHARI S PROFESSIONAL ACADEMY PVT LTD (Your Lifelong Knowledge Partner )
50 Questions 50 Marks 60 Minutes Rectification of Error Select the best choice to answer the following questions: 1. Which of the following statement is/are correct? (i) A separate suspense account should
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 12 No of Questions - 06 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I (INTAKE VI GROUP B) END SEMESTER
More informationIndex. Assets (continued) scrapping or disposal trading-in Auditing Profession Act 26 of
Index A Accounts balancing... 61 incomplete records... 369 Accounting balancing an account... 61 basic accounting equation... 27 cycle... 130 definition... 4, 13 developments... 5 domains... 14 function...
More informationYork University AP/Adms Introduction to Financial Accounting Midterm Examination Test Form B
York University AP/Adms 2500.03 Introduction to Financial Accounting Midterm Examination Test Form B Time: 3.0 hours Winter 2010 March 5 th, 2010 Questions: 50 Instructions: 1. Only the mark sense sheet
More informationNATIONAL SENIOR CERTIFICATE (NSC) GRADE 11 MID-YEAR EXAMINATION MATHEMATICAL LITERACY PAPER 1 (NSC11-02) D A
MATHIG111 NATIONAL SENIOR CERTIFICATE (NSC) GRADE 11 MID-YEAR EXAMINATION MATHEMATICAL LITERACY PAPER 1 (NSC11-02) D10055656-4-A TIME: 09H00 10H30 TOTAL: 75 MARKS DURATION: 1½ HOURS DATE: 10 JUNE 2013
More informationRemedial activities and solutions
Payroll and Monthly SARS Returns Remedial activities and solutions Learning Module: Recording business financial transactions Basic Accounting Activities The following activities have been developed to
More informationQUESTION 1: (94 Marks, 56 Minutes)
QUESTION 1: (94 Marks, 56 Minutes) This question consists of three parts. PART A The following information was found in the books of Lynnwood Auto on 29 February 2008, the last day of the financial year.
More information2015 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC1: ACCOUNTING/1
EXAMINATION NO. 2015 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC1: ACCOUNTING/1 TUESDAY 8 DECEMBER 2015 TIME ALLOWED : 3 HOURS 9.00 AM - 12.00 NOON INSTRUCTIONS 1. You are allowed 15 minutes
More informationNATIONAL SENIOR CERTIFICATE GRADE 12
NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING FEBRUARY/MARCH 2017 MARKS: 300 TIME: 3 hours This question paper consists of 17 pages and a 16-page answer book. Accounting 2 DBE/Feb. Mar. 2017 INSTRUCTIONS
More informationThis exam paper is in two sections. You should try to complete every task in both sections.
Exam NVQ/SVQ Level 2 in Accounting Preparing Ledger Balances and an Initial Trial Balance (PLB) 2003 Standards Tuesday 4 December 2007 (afternoon) Time allowed 3 hours plus 15 minutes reading time Please
More informationACCOUNTING GRADE 10 NOVEMBER 2015
ACCOUNTING GRADE 10 NOVEMBER 2015 MARKS: 300 TIME: 3 HOURS THIS QUESTION PAPER CONSISTS OF 13 PAGES INCLUDING THE COVER PAGE AND AN ANSWER BOOK OF 14 PAGES. 1 INSTRUCTIONS AND INFORMATION Read the following
More informationPrepared and solved by Cyberian www,vuaskari.com
Franchise rights, goodwill and patents are the examples of: Liquid assets Tangible assets Intangible assets Current assets Any expense that gives benefit for a period of less than twelve months is called.
More information(AA11) FINANCIAL ACCOUNTING BASICS
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA1 EXAMINATION - JULY 2017 (AA11) FINANCIAL ACCOUNTING BASICS Instructions to candidates (Please Read Carefully): (1) Time allowed:
More informationTuesday 6 December 2005 (afternoon) EXAMINATION. Time allowed - 3 hours plus 15 minutes reading time
NVQ/SVQ Level 2 in Accounting Preparing Ledger Balances and an Initial Trial Balance (PLB) (2003 standards) Tuesday 6 December 2005 (afternoon) EXAMINATION Time allowed - 3 hours plus 15 minutes reading
More informationACCOUNTING. From the following information provided by the proprietor of the business, Jeremy, you are required to prepare:
Question 1 From the following information provided by the proprietor of the business, Jeremy, you are required to prepare: a. Trading and Profit and Loss Account for the year ended 31 December 20x1 (13
More informationPractice exercise solutions
Bookkeeping to Trial Balance Practice exercise solutions Learning Module: An introduction to business, bookkeeping and accounting Practice exercise 1a (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) D M
More informationAccounting I BBA 2. Quiz No. 1. Registration No. Signature. Instructions. (Not to Turn the Title Page Prior to Instructions)
Registration No Signature BBA 2 Quiz No. 1 Instructions Please read the following instructions carefully before attempting any question: Write your student Registration No. and Signature; Failure to do
More information'Financial Accounting' Results For JOE BLOGGS. Financial Accounting. Summary
'Financial Accounting' Results For JOE BLOGGS Financial Accounting Summary Name Financial Accounting Test Language English Started - Finished 13th Jan 2016 18:58:11-13th Jan 2016 19:14:06 Time Available00:15:00
More informationFINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION
Canadian International Matriculation Programme Sunway College FINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION Date : 8 December 2015 Time Length Lecturer : 8:30 a.m. 10:30 a.m. : 2 hours : Ms
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 07 No of Questions - 05 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I (Group B) END SEMESTER EXAMINATION
More informationFINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION
Canadian International Matriculation Programme Sunway College FINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION Date : 5 December 2017 Time Length Lecturer : 8:30 a.m. 10:30 a.m. : 2 hours : Ms
More informationFINAL EXAMINATION MAY-2014 PRINCIPLES OF ACCOUNTING (ACCT-101)
COLLEGE OF ADMINISTRATION AND FINANCE Student's Name: Student ID NO: Date of exam: _19/05/2014 Branch: Time: Two Hour Max, Marks: 50 FINAL EXAMINATION MAY-2014 PRINCIPLES OF ACCOUNTING (ACCT-101) Marks
More informationThis exam paper is in two sections. You should try to complete every task in both sections.
Exam NVQ/SVQ Level 2 in Accounting Preparing Ledger Balances and an Initial Trial Balance (PLB) 2003 Standards Tuesday 17 June 2008 (afternoon) Time allowed - 3 hours plus 15 minutes reading time Please
More informationNATIONAL SENIOR CERTIFICATE GRADE 12
NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING EXEMPLAR 2008 MARKS: 300 TIME: 3 hours This question paper consists of 18 pages and an answer book of 20 pages. Accounting 2 DoE/Exemplar 2008 INSTRUCTIONS
More informationSENIOR CERTIFICATE EXAMINATIONS
SENIOR CERTIFICATE EXAMINATIONS ACCOUNTING 2016 MARKS: 300 TIME: 3 hours This question paper consists of 21 pages and an answer book of 20 pages. Accounting 2 DBE/2016 INSTRUCTIONS AND INFORMATION Read
More informationACCOUNTING PAPER 1. Time: 2 hours Marks: 220 GRADE 12. Instructions to Candidates:
ACCOUNTING PAPER 1 GRADE 12 Time: 2 hours Marks: 220 Instructions to Candidates: 1. This paper consists of 12 pages (including the front cover). 2. Read the questions carefully and only answer what is
More informationACCOUNTING: PAPER I. 4. It is in your own interest to write legibly and to present your work neatly.
NATIONAL SENIOR CERTIFICATE EXAMINATION NOVEMBER 2016 ACCOUNTING: PAPER I EXAMINATION NUMBER Time: 2 hours 200 marks PLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY 1. This question paper consists of
More informationNATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING COMMON TEST JUNE 2014
NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING COMMON TEST JUNE 2014 MARKS: 300 TIME : 3 hours This question paper consists of 16 pages and an answer booklet of 20 pages. *ACCNE* Accounting 2 June 2014
More informationFAC 1503 DISCUSSION CLASS
FAC 1503 DISCUSSION CLASS False words are not only evil in themselves, but they infect the soul with evil. PLATO; GREEK AUTHOR & PHILOSOPHER (427 BC - 347 BC) Objectives You (student) must be able to:
More information(AA11) FINANCIAL ACCOUNTING BASICS
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA1 EXAMINATION - JANUARY 2019 (AA11) FINANCIAL ACCOUNTING BASICS Instructions to candidates (Please Read Carefully): (1) Time allowed:
More informationPRINCE LIMITED You are provided with information for the financial year ended 28 February 2015.
REVISING ADJUSTMENTS FOR THE BALANCE SHEET (LIVE) Section B: Exam Questions Question 1 CONCEPTS GAAP PRINCIPLES 27 AUGUST 2015 REQUIRED: Choose an explanation from COLUMN B that matches a concept in COLUMN
More informationTWGHs CHEN ZAO MEN COLLEGE First-term Examination ( )
TWGHs CHEN ZAO MEN COLLEGE First-term Examination (2007-2008) Level: S4 Subject: Principles of Accounts No of pages: 4 Date: 7 January 2008 (Monday) Time allowed: 2 hours (8:20-10:20 am) Exam No: Answer
More informationFINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION
Canadian International Matriculation Programme Sunway College FINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION Date : 6 June 2017 Time Length Lecturer : 8:30 a.m. 10:30 a.m. : 2 hours : Ms Rehnu
More informationCHAPTERS COVERED : CHAPTERS 1-8, 10 & LEARNER GUIDE : STUDY UNITS 1-4 & 8. DUE DATE : 3:00 p.m. 21 AUGUST 2012
Page 1 of 6 ASSIGNMENT 2 ND SEMESTER : FINANCIAL MANAGEMENT () CHAPTERS COVERED : CHAPTERS 1-8, 10 & 21-24 LEARNER GUIDE : STUDY UNITS 1-4 & 8 DUE DATE : 3:00 p.m. 21 AUGUST 2012 TOTAL MARKS : 100 INSTRUCTIONS
More informationACCOUNTING JUNE EXAMINATION GRADE 11
1 ACCOUNTING JUNE EXAMINATION 2015 GRADE 11 MARKS: 300 TIME: 3 HOURS This Question paper consists of 13 pages and 11 pages Answer book INSTRUCTIONS AND INFORMATION 2 1. You are provided with a question
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved Index No No. of Pages - 12 No of Questions - 08 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I (INTAKE VI GROUP A)
More informationFM101 CHAPTERS COVERED : CHAPTERS 1-5, 7, 8. DUE DATE : 3:00 p.m. 15 MARCH 2011
Page 1 of 6 ASSIGNMENT 1 ST SEMESTER : FINANCIAL MANAGEMENT 1 () CHAPTERS COVERED : CHAPTERS 1-5, 7, 8 DUE DATE : 3:00 p.m. 15 MARCH 2011 TOTAL MARKS : 100 INSTRUCTIONS TO CANDIDATES FOR COMPLETING AND
More informationNATIONAL SENIOR CERTIFICATE GRADE 12
NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING FEBRUARY/MARCH 2014 MARKS: 300 TIME: 3 hours This question paper consists of 24 pages and an 18-page answer book. Accounting 2 DBE/Feb. Mar. 2014 INSTRUCTIONS
More informationFinancial procedures manual
Contents Introduction... 2 Finance authorisation procedure... 2 Bank account procedure... 3 Petty cash procedure... 4 Use of business credit card procedure... 5 New supplier procedure... 6 New customer
More informationGRAAD 12 NATIONAL SENIOR CERTIFICATE GRADE 12
GRAAD 12 NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING NOVEMBER 2011 MARKS: 300 TIME: 3 hours This question paper consists of 19 pages and an 18-page answer book. Accounting 2 DBE/November 2011 INSTRUCTIONS
More informationFFA. Financial Accounting. OpenTuition.com ACCA FIA exams. Free resources for accountancy students
September/December 2015 exams OpenTuition.com Free resources for accountancy students ACCA FIA F3 FFA Financial Accounting Please spread the word about OpenTuition, so that all ACCA students can benefit.
More informationACCOUNTING 1 BACHELOR OF COMMERCE
JULY 2013 SUPPLEMENTARY/AEGROTAT EXAMINATION MODULE: ACCOUNTING 1 PROGRAMME: BACHELOR OF COMMERCE DATE: 31 July 2013 TIME: 09h00 12h00 DURATION: 3 hours MARKS: 100 EXAMINER: P. Salikram MODERATOR: N. Naidoo
More informationThis question paper consists of 5 pages. PLEASE NOTE:
This question paper consists of 5 pages. PLEASE NOTE: 1. Ensure that you are writing the correct examination paper. 2. Ensure that you are handed the correct examination answer book (BLUE) by the invigilator.
More information1 st Year Examination : Summer FINANCIAL ACCOUNTING l NEW SYLLABUS. PAPER, SOLUTIONS and EXAMINERS REPORT
1 st Year Examination : Summer 2009 FINANCIAL ACCOUNTING l NEW SYLLABUS PAPER, SOLUTIONS and EXAMINERS REPORT NOTES TO USERS ABOUT THESE SOLUTIONS The solutions in this document are published by Accounting
More informationSESSION 2: COMPANIES FINANCIAL STATEMENTS PART 1
SESSION 2: COMPANIES FINANCIAL STATEMENTS PART 1 KEY CONCEPTS: In this session we will look at: - Introduction - Users of Financial Statements - Income Statement X-PLANATION INTRODUCTION A company essentially
More informationCompleting your first self assessment David Hinshelwood
Completing your first self assessment David Hinshelwood Understand AIMS AND OBJECTIVES Understand HMRC requirements What should be included in the records What records should be kept and for how long How
More informationTRINITY TUTORIALS EXAM PACK AND STUDY NOTES
TRINITY TUTORIALS EXAM PACK AND STUDY NOTES THIS PACK CONSISTS OF PAST EXAM PAPERS FROM MAY 2009 NOVEMBER 2013 AND THEIR SUGGESTED SOLUTIONS PLUS NOTES WHICH WILL HELP THE STUDENT TO UNDERSTAND AND APPRECIATE
More informationPearson Edexcel International GCSE Accounting Paper 1 Time: 2 hours 30 minutes 4AC0/01 You do not need any other materials.
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Tuesday 23 January 2018 - Morning Time: 2 hours 30 minutes You do not need
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*5783442697* Cambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level ACCOUNTING 9706/11 Paper 1 Multiple Choice May/June 2017 Additional Materials: Multiple
More informationSome deferred items for which adjusting entries would be made include: Prepaid insurance Prepaid rent Office supplies Depreciation Unearned revenue
WWW.VUTUBE.EDU.PK Paper 1 MIDTERM EXAMINATION Spring 2009 FIN621- Financial Statement Analysis (Session - 1) Question No: 1 ( Marks: 1 ) - Please choose one Which of the following is the acronym for GAAP?
More informationTax Technician Knowledge Competency Assessment June 2015 Paper 2: Question
Tax Technician Knowledge Competency Assessment June 2015 Paper 2: Question Instructions to Candidates 1. This competency assessment paper consists of two questions. 2. Answer each question in a separate
More information(AA11) FINANCIAL ACCOUNTING BASICS
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA1 EXAMINATION - JANUARY 2017 (AA11) FINANCIAL ACCOUNTING BASICS Instructions to candidates (Please Read Carefully): (1) Time allowed:
More informationFinancial Accounting. Sample Paper 3 Questions & Suggested Solutions. Page 1 of 31
Financial Accounting Sample Paper 3 Questions & Suggested Solutions Page 1 of 31 NOTES TO USERS ABOUT SAMPLE PAPERS Sample papers are published by Accounting Technicians Ireland. They are intended to provide
More informationILLUSTRATION 12-1 TYPES OF INTANGIBLE ASSETS
ILLUSTRATION 12-1 TYPES OF INTANGIBLE ASSETS INTANGIBLE ASSETS Identifiable Intangible Assets (Rights Type) Externally Acquired Internally Developed Financial Statement Treatment Unidentifiable Intangible
More informationFinancial Accounting
Drawings Assets expenses Capital Income Liabilities - Drawings - Capital - Assets - Income - Expenses - Liabilities Dt (Increases) Cr (Increases) Cr (decreases) Dt (decreases) Financial Accounting Financial
More informationProcessing bookkeeping transactions. Webinar notes
Processing bookkeeping transactions Webinar notes Principles of double-entry For every debit entry there must be an equal credit entry or entries Information is summarised in books of prime entry Totals
More informationQualifications: LEVEL 2 Certificate in Bookkeeping (QCF) (Accreditation number: 601/0730/3)
Qualifications: LEVEL 2 Certificate in Bookkeeping (QCF) (Accreditation number: 601/0730/3) LEVEL 2 Certificate in Manual Bookkeeping (QCF) (Accreditation number: 601/0480/6) Sample Assessment Material
More information61156 Seat No. First Year B. B. A. Examination. March / April Principle & Practice of Accountancy
61156 Seat No. First Year B. B. A. Examination March / April 2003 Principle & Practice of Accountancy Time : 3 Hours] [Total Marks : 100 Instructions : (1) Figures to the right side of the question indicate
More informationAccounting *P44292A0120* P44292A. Paper 1. Pearson Edexcel International GCSE. Friday 8 May 2015 Morning Time: 2 hours 30 minutes.
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Friday 8 May 2015 Morning Time: 2 hours 30 minutes You do not need any other
More informationMIDTERM EXAMINATION Fall 2009 MGT101- Financial Accounting (Session - 2)
MIDTERM EXAMINATION Fall 2009 MGT101- Financial Accounting (Session - 2) Question No: 1 ( Marks: 1 ) - Please choose one Particulars Rs. Opening written down value of machine 1,00,000 Cost of new machine
More informationSUBJECT: ACCOUNTING GRADE 12 CHAPTER: COMPANIES LESSON: PUBLISHED FINANCIAL STATEMENTS LESSON OVERVIEW (KNOWLEDGE AREAS) LESSON INTRODUCTION
SUBJECT: ACCOUNTING GRADE 12 CHAPTER: COMPANIES LESSON: PUBLISHED FINANCIAL STATEMENTS LESSON OVERVIEW (KNOWLEDGE AREAS) LESSON 1. Introduction 2. Income Statement 3. Balance sheet INTRODUCTION A company
More informationNATIONAL SENIOR CERTIFICATE GRADE 12
NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING FEBRUARY/MARCH 2009 MARKS: 300 TIME: 3 hours This question paper consists of 18 pages. Accounting 2 DoE/Feb. March 2009 INSTRUCTIONS AND INFORMATION Read
More informationGRADE 11 NOVEMBER 2013 ACCOUNTING
NATIONAL SENIOR CERTIFICATE GRADE 11 NOVEMBER 2013 ACCOUNTING MARKS: 300 TIME: 3 hours This question paper consists of 18 pages. 2 ACCOUNTING (NOVEMBER 2013) INSTRUCTIONS AND INFORMATION 1. This question
More informationTHE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2009 EXAMINATIONS FOUNDATION STAGE PAPER 1: ACCOUNTING FRAMEWORK
Examination No. THE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2009 EXAMINATIONS FOUNDATION STAGE PAPER 1: ACCOUNTING FRAMEWOR MONDAY 7 DECEMBER 2009 TIME ALLOWED : 3 HOURS 9.00 AM - 12.00 NOON INSTRUCTIONS:
More informationPLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY
Time: 2 hours ACCOUNTING GRADE 12 Paper 1 200 marks PLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY 1. This paper consists of 9 pages. Please check that your question paper is complete. 2. Read the questions
More informationGeneral Certificate of Education June 2007 Advanced Subsidiary Examination. Unit 1 Financial Accounting: The Accounting Information System
Surname Centre Number Other Names Candidate Number For Examiner s Use Candidate Signature General Certificate of Education June 2007 Advanced Subsidiary Examination ACCOUNTING Unit 1 Financial Accounting:
More informationPREPARATION OF BANK RECONCILIATION STATEMENT, LEDGER AND TRIAL BALANCE
CHAPTER-4 PREPARATION OF BANK RECONCILIATION STATEMENT, LEDGER AND TRIAL BALANCE BANK RECONCILIATION STATEMENT Bank Reconciliation Statement is prepared to reconcile the difference between the bank Balance
More informationPlease spread the word about OpenTuition, so that all ACCA students can benefit.
ACCA COURSE NOTES June 2014 Examinations ACCA F3 FIA FFA Financial Accounting Please spread the word about OpenTuition, so that all ACCA students can benefit. ONLY with your support can the site exist
More informationFinancial Services. Total marks 80. Section I Pages marks Attempt Questions 1 15 Allow about 20 minutes for this section
2016 HIGHER SCHOOL CERTIFICATE EXAMINATION Financial Services Total marks 80 Section I Pages 2 6 General Instructions Reading time 5 minutes Working time 2 hours Write using black pen Board-approved calculators
More informationCHAPTER 24. Statement of cash flows CONTENTS
CHAPTER 24 Statement of cash flows CONTENTS 24.1 Simple statement of cash flows 24.2 Statement of cash flows for a sole trader 24.3 Statement of cash flows for a partnership 24.4 Statement of cash flows
More informationErrata to Fundamental Accounting (6 th edition Revised Reprint ISBN )
Errata to Fundamental Accounting (6 th edition Revised Reprint ISBN 9781485102670) These changes must be read in conjunction to the textbook. It refers to changes in the individual chapters and pages noted.
More informationThe Profit & Loss Account Accounting for Revenue & Expenses
The Profit & Loss Account Accounting for Revenue & Expenses Chapter 3 1 Luby & O Donoghue (2005) Profit & Loss Account The main reason why people set up in business is to make a profit. The profit and
More information